scholarly journals Corporate Social Responsibility and Post Earnings Announcement Drift: Evidence from Korea

2021 ◽  
Vol 13 (11) ◽  
pp. 6496
Author(s):  
Hyunjung Choi ◽  
Haeyoung Ryu
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
South Korea ◽  
Capital Market ◽  
Stock Prices ◽  
Management Strategies ◽  
Earnings Announcement ◽  
Earnings Information ◽  
Post Earnings Announcement Drift ◽  
Corporate Social

To promote corporate social responsibility (CSR) in emerging markets such as South Korea to the level of developed nations, support from capital market investors is necessary. That is, CSR activities expand if capital market investors actively invest in companies that pursue such activities. This study thus analyzes the influence of the level of CSR activities on the post-earnings-announcement drift (PEAD) of publicly listed companies in South Korea, given the need to analyze the relationship between capital markets and CSR, which is part of sustainability management strategies. A sample of Korean firms listed on the Korean Stock Exchange from 2014 to 2018 was used for the regression analysis. The financial and stock return data were extracted from the KIS-Value database and CSR activities data were collected from the Korea Economic Justice Institute (KEJI) Index. The empirical analysis determined that more inactive companies in terms of CSR exhibited greater PEAD magnitude. Furthermore, high information asymmetry was found to further increase the magnitude of PEAD. These results indicate that investors cannot make swift investment decisions because of their low confidence in the information disclosed by inactive CSR companies; as a result, earnings information is slowly reflected in the stock prices of the period following disclosure. These findings suggest that CSR plays an important role in boosting investor confidence in corporate earnings information.

scholarly journals Tanggung Jawab Sosial Dan Risiko Sistematis: Efek Moderasi Dari Fleksibilitas Keuangan Dan Investasi Penelitian Dan Pengembangan

2021 ◽  
Vol 4 (2) ◽  
pp. 162-185
Author(s):  
Anita Anita ◽  
Lisa Lim
Keyword(s):  
Regression Analysis ◽  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Research And Development ◽  
Stock Prices ◽  
Systematic Risk ◽  
Financial Flexibility ◽  
Corporate Social ◽  
The Relationship ◽  
D Investment

The study is conducted with the aim of examining the effect of corporate social responsibility on systematic risk in companies listed on the IDX for the period of 2016-2020. This study adds financial flexibility and research and development investment as moderators which are still remain unexplored in Indonesia. This research is expected to be able to make investors consider social responsibility as a factor in making investment decisions. The data taken are stock prices, annual reports and sustainability reports which are secondary data. Data collection using purposive sampling method with certain criteria so that the number of samples in this study amounted to 43 companies. In testing the hypothesis using panel data regression analysis techniques with eviews. The results of the regression analysis show that the existence of corporate social responsibility has a significant positive effect on systematic risk. The moderating variable of financial flexibility does not affect the relationship between CSR and systematic risk. Then the research and development investment variables weaken the relationship between CSR and systematic risk. Therefore, management is expected to pay attention to R&D investment in making CSR policies. This study explains that R&D investment is one of the important roles in company sustainability.

scholarly journals The Role of a Policy in Strengthening Corporate Social Responsibility: An Empirical Study of the Mining Sector in Ghana

2018 ◽  
Vol 11 (3) ◽  
pp. 176
Author(s):  
Alphonse Kumaza ◽  
Yuanqiong He
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Environmental Governance ◽  
Management Strategies ◽  
P Value ◽  
Policy Enforcement ◽  
Corporate Management ◽  
Development Discourse ◽  
Social Agenda ◽  
Corporate Social

The prohibition imposed on resource-rich nations by the Global North governments to legislate laws to control multi-national enterprises has hit a death nail in any attempt(s) to innovate corporate social responsibility. Consequently, a self-commitment strategy was recommended for adoption to guide business own activities. This strategy undermines business participation in effective social governance yet encourages externalisation of the corporate cost of production, leading to catastrophic ramifications for host communities. The paper, therefore, proposes a policy nuance, which is a novelty in the existing literature, to oversee social responsibility undertakings and brings on board the corporate body in the social development discourse. Meanwhile, an SPSS analysis shows a statistically significant p-value and a negative coefficient which indicates comparability between policy and corporate social responsibility resulting in an endorsement of the paper’s proposition. Conclusively, a policy distinction would ensure appropriate planning, realistic and objective target setting, and compensatory plus effective and efficient implementation of basic social amenities, while systematising and normalising social agenda in corporate management strategies. It would also inspire checks of multi-national enterprises’ commitments since benchmarks are established and visible for references. Expectedly, further study on an appropriate policy enforcement mechanism for social (and environmental) governance is recommended.

scholarly journals ASTUDYOFONLINEBRANDACTIVISMANDITS IMPACTONCONSUMERBRANDRELATIONSHIP

2021 ◽  
Vol 9 (08) ◽  
pp. 357-362
Author(s):  
Anirrban Ghosh
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Management Strategies ◽  
Natural Evolution ◽  
Communication Management ◽  
Design And Implementation ◽  
The Mind ◽  
Corporate Social

Brand activism is becoming a natural evolution beyond the values-driven Corporate Social Responsibility (CSR) and Environmental, Social and Governance (ESG) programs that are, frankly, too slow. Brand Activism is also a step towards the purpose of why does the business exist. Most of the brands no longer have a choice. If the gap between a business and its values and its customers or society and his other stakeholders is too large, business will inevitably suffer.Hence, this study intends to find the perceptions of consumers towards brandactivism, so that the findings from the study can help the brand custodian and marketing professionals to steertheir brands into the vulnerable scenario of brand activism around the world.Brand activism now a days contributes to the design and implementation of new communication management strategies in society at large. Therefore, it was important to find out the correlation between online and offline brand activism and understand the psychology of the mind of the consumer.

scholarly journals Disclosure of Corporate Social Responsibility (CSR) Through Company Characteristics at Company Listed on LQ45 Indonesia Stock Exchange (IDX)

2017 ◽  
Vol 1 (02) ◽  
Author(s):  
Budiyono Budiyono ◽  
Dewi Maryam
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Firm Size ◽  
Stock Prices ◽  
Stock Exchange ◽  
Social Orientation ◽  
Public Ownership ◽  
Corporate Social Responsibility Disclosure ◽  
Corporate Social ◽  
The Impact

In the era of globalization, environmental awareness has brought about changes in attitudes towards profit orientation of the social orientation of the company. Management as the agent cannot avoid the reality of the impact of corporate activity that not only generates profits / raise stock prices, but also has environmental impacts such as damage to ecosystems, pollution, and so forth. The purpose of this study was to analyze the influence of firm characteristics on corporate social responsibility disclosure in corporate annual reports in Indonesia. The populations in this study are 10 companies listed in the LQ45 index of the Indonesia Stock Exchange (IDX) with the research period of 2011 until 2015 and meet the criteria established. Analysis of the Data used is multiple linear regressions. The results of this study indicate that public ownership, liquidity, and firm size have no significant effect on corporate social responsibility disclosure. Meanwhile, leverage and profitability have a significant effect on corporate social responsibility disclosure. Keywords: corporate social responsibility disclosure, public ownership, leverage, liquidity, profitability, and firm size.

scholarly journals CSR accounting ‘new wave’ researchers: ‘step up to the plate’… or ‘stay out of the game’

2020 ◽  
Vol 19 (4) ◽  
Author(s):  
Charles H. Cho
Keyword(s):  
Corporate Social Responsibility ◽  
Social Responsibility ◽  
Capital Market ◽  
New Wave ◽  
Accounting Research ◽  
Market Driven ◽  
Corporate Social ◽  
Instrumental Approaches ◽  
Pain Points

Recent discussions at accounting conferences and workshops suggest that academics are ‘deeply divided’ on the role and purpose of corporate social responsibility (CSR) accounting. This ‘rift’ has been created by moves from mainstream accounting researchers to contribute to a body of evidence that is almost 50 years old without—many believe—being cognizant, or even respectful, of the work that has gone before. The existing work by CSR accounting scholars puts sustainability of the planet at its core, rejecting narrow or instrumental approaches to the fundamental issues; in contrast, more recent ‘capital market-based’ work takes investor-centric, or market-driven approaches to ‘sustainability’ and CSR. While there are calls for greater understanding of, and empathy for, each other’s views and perspectives, this essay identifies some particular pain-points, and calls for new wave researchers—those who recently ‘(re)discovered’ CSR accounting research—to ‘step up (to their plate)’ or simply ‘stay in their own lane (or, out of the game)’.

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